New York Mayor Michael Bloomberg called for eliminating Bush-era tax cuts and farm and energy subsidies, and an end to what he called “tax loopholes” on carried interest enjoyed by hedge fund partners, during a speech delivered in Washington DC at a forum sponsored by the Center for American Progress.
He urged Obama to veto any further extensions, and “throw politics aside and lead -- not follow -- the conventional wisdom.”
He made no specific suggestions during his speech as to where the government might be cut. Perhaps he sees none.
Bloomberg is likely considering a run as a third party candidate. Consider him a very dangerous third rail.
The only correct thing he said was to eliminate farm and energy subsidies. Other than that he is as scumy as ever.
ReplyDeleteFrom an Austrian/Free-Market perspective, income is income, & no particular activity, such as capital formation/gains, should be favored by tax policy.
ReplyDeleteAnd there is no reason what-so-ever, for "carried interest" to be treated as capital gains.
Bloomberg would draw support from Obama in the general, so how is this a bad thing (if/when Ron Paul wins the GOP nod)?
ReplyDeleteI'd be more afraid of Trump.